Bai Ao Smart: Shareholder Xiao Chaopeng's shareholding changes have reached a multiple of 5%, now holding 25.0000% of the shares.

Bai'ao Intelligent Announcement: The company recently received a "Simplified Equity Change Report" issued by Mr. Xiao Chaopeng, the controlling shareholder and actual controller. Due to Mr. Xiao Chaopeng's previous increase in holdings, passive increase in shareholding ratio, and reduction in holdings through centralized bidding transactions, the percentage of shares he holds in the company has changed cumulatively. After this equity change, Mr. Xiao Chaopeng holds 23.17 million shares of the company, accounting for 25.0000% of the current total share capital of the company. This equity change touches on multiples of 5%. This equity change does not trigger a tender offer and will not result in a change in the company's controlling shareholder and actual controller.